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4 replies

FASB13 and copiers

D dclaterbaugh (Guest)
I am in a competitive situation that the criteria to meet a true operating lease is a must. They are currently utilizing a 48 month lease with a 36 month out to meet this criteria. Obviouosly, accounting based on a 60 month useful life rule. However, I think I have seen a document or information stating that copiers can actually be on the books for up to seven years. Which would allow us to use a 48 month lease with no out. Any thoughts or information?
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B Brad (Guest)
Briefly, FASB13 says that you can have a lease term of no longer than 36 mos. and the total of the 36 lease payments can equal no more than 90% of the cash price of the equipment. So you have to establish a cash price in line with this. Hopefully that price will not exceed your published retail price or you're screwed. Good Luck!

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